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The buyer and the lender these bargains represented overwork risk. Absence of a legal protection was not an absolute obstacle for suchBargains; it was possible to expect, - and expected! On reputation and character
Partners. But insufficient reliability of a legal protection increased risks and
Merchandising costs so, narrowed trade volume.
Development of a commercial law and arbitration courts was partly the answer on
Trade expansion. The universal and reliable commercial law required in
The judges having experience of the permission of trading disputes, and in accumulation of precedents,
Against which decisions could lean. Medieval courts could not develop Commercial law system while the trade volume was not great enough, that
To generate a constant stream of commercial disputes, and this stream could not
To be generated, while decisions of the courts remained unpredictable in force
Defect of precedents, bias against foreigners and medieval Concepts of discretionary justice. In the late Middle Ages courts Trading cities that here there broke an exit from deadlock. But only in
The XVIII-th century end royal courts in London have stored sufficient experience in
The resolution of disputes concerning the insurance, bills, the ship freight, contracts about
To sale, agreements on association, patents, on arbitration and others Commercial transaction thanks to what English justice became
The positive factor of development of commerce in England. English courts accepted
Petitions from foreign dealers also have acquired reputation of the irreproachable
Honesty in the relation to lawsuits of foreigners. Trading transaction, insurance
Policies and the credit tools which are carried out under jurisdiction of English
The rights, were more reliable, more predicted, less subject To whims of monarchs and changes of moods of this or that consignment, as
It was expressed in development of insurance business in England, in lifting of London as world
The financial centre and growth of the British trade as a whole, and also in the low
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